Source: Federal Reserve Bank of Chicago
Release: Chicago Fed Midwest Economy Index
This series represents the contributions of the services sector to the Midwest Economy Index (MEI). This series is a weighted average of state and regional indicators encompassing the entirety of the five states in the Seventh Federal Reserve District (Illinois, Iowa, Iowa, Michigan, and Wisconsin).
The series measures the growth in nonfarm business activity in the Midwest Region based on the services sector.
A zero value represents an average contribution to the MEI by the Services sector, whereas a positive value indicates that an above-average contribution to MEI; and negative values indicate below-average contribution to MEI.
For further information about the Midwest Economy Index, go to http://midwest.chicagofedblogs.org/archives/2011/03/mei_by_scott_br.html and http://chicagofed.org/digital_assets/publications/chicago_fed_letter/2010/cflnovember2010_280.pdf .
Federal Reserve Bank of Chicago, Contributions to the Chicago Fed Midwest Economy Index: Services Contribution [SERVICESM683SFRBCHI], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/SERVICESM683SFRBCHI, March 24, 2023.